U.S. Government Allegedly Approves Sale of Electronic Chips to Huawei

The United States government has allegedly approved the sale of hundreds of millions of dollars worth of electronic chips to Chinese technology giant Huawei, in a massive reversal of a Trump-era policy by the Biden Administration, as reported by the Daily Caller.

The report was first made by Reuters on Wednesday, which cited two anonymous sources who claimed to be familiar with the deal. Huawei intends to use the new supply of chips to construct more automatic components of automobiles, including video monitors and motion sensors. Huawei allegedly asked the suppliers to raise the value of chips from hundreds of millions to at least one billion for the next sale after the four-year licensing agreement expires.

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Portman Sponsored Digital Equity Act of 2021, Slipped Into Infrastructure Bill

Rob Portman

Outgoing Ohio Sen. Rob Portman (R-OH), reached across the aisle to cosponsor the Digital Equity Act of 2021, which was later passed and slipped into the more than 2700 page, $3.5 trillion infrastructure bill agreed upon by the U.S. Senate last week. 

U.S. Sen. Patty Murray (D-WA), announced the introduction of the bill on her website on June 1:

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Biden Administration Unveils ‘Historic’ Investment for Communities That Could Create 300,000 Jobs in the ‘Near Term’

President Joe Biden’s administration announced that it would give $3 billion in coronavirus stimulus funds to approved local communities across the country.

The program dubbed “Investing in America’s Communities” amounts to the largest initiative of its kind in decades, according to the Department of Commerce. Local governments and organizations nationwide impacted by the coronavirus pandemic are able to apply to receive the federal funds.

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Inflation Spiked While Personal Income Dropped in April, Key Economic Report Shows

Two men in grocery aisle, shopping

A key measurement of consumer spending and personal income showed the economy experienced higher-than-expected inflation in April, according to the Department of Commerce.

The Personal Consumption Expenditures (PCE) price index — a main inflation indicator used by the Federal Reserve that measures consumer price increases  — ticked up by 0.6% while the core PCE index, which excludes food and energy, increased 0.7% in April, the Commerce Department reported Friday. The Disposable Personal Income index, which measures how much after-tax income Americans have — decreased by 14.6%, or $3.22 trillion.

Economists had expected the PCE measure to come in lower than it did, CNBC reported.

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Citizenship Question Has Been Included on Canada’s Census Since 1901

  The debate over whether or not to include a citizenship question on the 2020 U.S. census has become the latest division in American politics, but a similar question has been included on Canada’s census for more than a century. On Saturday, the Canadian Broadcasting Corporation (CBC) reported that America’s…

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Department of Commerce Awards $600,000 to Help Northeast Ohio Address Economic Downturn

  The U.S. Department of Commerce recently announced a $600,000 investment to help Northeast Ohio address the economic downturn in the region caused by the closure of the General Motors Lordstown facility and the decline in the coal economy. In a press release, the DOC said its Economic Development Administration…

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Committee on Foreign Investment May Not Be Able to Handle Its Exploding Caseload

by Riley Walters   The Committee on Foreign Investment in the U.S. is often compared to a black box. Investors may be aware of what it does, but few know what really goes on inside. The nine members of the committee, drawn from various federal agencies, are in charge of…

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Wilbur Ross Orders NOAA To Give Firefighters All The Water They Need To Fight WildFires

wildfire

by Tim Pearce   Commerce Secretary Wilbur Ross is using resources in his department to ensure that California firefighters are armed with enough water to fight wildfires scorching the state. Ross ordered the National Oceanic and Atmospheric Administration and other federal agencies to prioritize water use for fighting fires over previously arranged…

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